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Committee adopts investment policy to comply with General Municipal Law
Summary
Warren County’s Finance & Budget Committee approved a county investment policy after the county attorney and risk manager presented a draft; the county attorney said the General Municipal Law requires adoption of an investment policy and recommended formal adoption to reach compliance.
The committee approved a drafted Warren County investment policy presented by the risk and safety manager and the county attorney. The county attorney said the policy is required by the General Municipal Law and recommended adoption to bring the county into compliance.
The draft had been developed by the risk & safety subcommittee, risk manager, county attorney and county investment consultants using a controller's office template. The county attorney emphasized the state law requirement and recommended adopting the policy pending any annual reviews.
Committee members voted in favor by voice vote. Staff said the policy will be reviewed annually if adopted and that this action aligns county procedure with statutory requirements.
